Tax Notes contributing editor Robert Goulder breaks down the new excise tax on corporate stock buybacks in the Inflation Reduction Act, all in five minutes. This transcript has been edited for length and clarity. President Joe Biden recently signed the Inflation Reduction Act (P.L. 117-169). It contains various healthcare and clean energy provisions, but this
Month: September 2022
Existing-home sales experienced a slight dip in August, marking the seventh consecutive month of declines, according to the National Association of Realtors. Month-over-month sales varied across the four major U.S. regions as two regions recorded increases, one was unchanged and the other posted a drop. On a year-over-year basis, however, sales fell in all regions.
Production is now set to begin at the former Detroit-Hamtramck assembly plant, less than two years after GM announced the massive $2.2 billion investment to fully renovate the facility to build a variety of all-electric trucks and SUVs. Photo by Jeffrey Sauger for General Motors DETROIT – General Motors will close reservations for its electric
Residential single family homes construction by KB Home Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021. Mike Blake | Reuters Check out the companies making headlines after hours. KB Home — Shares dipped 21% in extended trading after the homebuilder
Morsa Images | E+ | Getty Images As investors digest another 0.75 percentage point interest rate hike by the Federal Reserve, government bonds may be signaling distress in the markets. Ahead of news from the Fed, the policy-sensitive 2-year Treasury yield climbed to 4.006% on Wednesday, the highest level since October 2007, and the benchmark
The Federal Reserve raised the target federal funds rate by 0.75 percentage points for the third time in a row, in an effort to cool down unrelenting inflation. Fed officials have raised the benchmark short-term borrowing rate a total of five times this year, including 75 basis point increases in June and July, marking an unprecedented pace.
Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, July 27, 2022. Elizabeth Frantz | Reuters The Federal Reserve’s decision to raise interest rates by 0.75%, or 75 basis points, for the third-consecutive time at the Federal Open Market Committee
Are downtown central business districts (CBDs) finally coming back after COVID? Although there are some signs of recovery, many cities are still struggling. The long-term future of CBDs is tied to how much working from home becomes permanent, and that’s still in flux. But a full return to pre-pandemic occupancy levels is very doubtful. The
New York has a convoluted body of usury law that deems certain loans usurious and invalidates them. New York’s usury law almost never actually applies to any loan because the law riddled with so many exceptions and exclusions. It will, however, sometimes rear its ugly head with casual or noninstitutional transactions, or where a lender
Mortgage application volume increased last week for the first time in six weeks, according to the Mortgage Bankers Association, despite a rise in interest rates. Abrupt swings in rates and uncertainty on the overall direction of the housing market are likely at play. related investing news There’s one number that could be key to how
Construction workers outside the Marriner S. Eccles Federal Reserve Building, photographed on Wednesday, July 27, 2022 in Washington, DC. Kent Nishimura | Los Angeles Times | Getty Images There’s not a lot of mystery surrounding Wednesday’s Federal Reserve meeting, with markets widely expecting the central bank to approve its third consecutive three-quarter point interest rate
Monkeybusinessimages | Istock | Getty Images Millions of Americans may receive reduced Social Security benefits if they worked in public roles as teachers, firefighters, police or government workers. Now a proposal in Congress to eliminate the rules that cause those benefit reductions is moving forward. But experts say it’s still unclear whether the bill will
Today’s Social Security column addresses questions about how early retirement benefits can affect later spousal benefits, collecting while earning income and taking survivor’s benefits after spousal benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. See more Ask Larry answers here. Have Social
It’s easy to make assumptions about small towns, whether they are laid-back communities in the shadow of more densely populated areas or that their housing is affordable for most home buyers. Home prices may seem as if they’re declining in some parts of the country, but that doesn’t change how dramatically they’ve risen over the
In this article F Follow your favorite stocksCREATE FREE ACCOUNT Ford F-150 Lightning at the 2022 New York Auto Show. Scott Mlyn | CNBC DETROIT – Ford Motor’s stock suffered its worst day in more than 11 years, after the automaker pre-released part of its third-quarter earnings report and warned investors of $1 billion in
BEIJING — European businesses in China are revaluating their market plans after this year’s Covid controls further isolated the country from the rest of the world, said Joerg Wuttke, president of the European Union Chamber of Commerce in China. China’s stringent Covid policy has restricted international travel, and business activity — especially after a two-month
Brandon Bell | Getty Images News | Getty Images The White House released an analysis on Tuesday of how many people in each state stand to benefit from its student loan forgiveness plan, including a count of borrowers who received a Pell Grant. More than 3.5 million people are eligible for debt cancellation in California,
Lauren Collins of Vinson & Elkins LLP provides an overview of the new tax credits designed to reduce greenhouse gas emissions in the Inflation Reduction Act. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes Today International. This week:
Real estate sales records are meant to be broken. And once again, Driven Properties has not disappointed with the closing of a property in the Villa Amalfi development on master-planned Jumeirah Bay Island in Dubai. Jumeirah Bay Island is coveted for its excellent security, comfort and privacy—plus a premium … [+] waterfront location. Driven Properties
In this article BYND Douglas Ramsey Source: Washington County, Arkansas Beyond Meat said its operating chief Doug Ramsey has been suspended, effective immediately, after he was arrested Saturday evening for allegedly punching a man and biting his nose. The company said in a statement on Tuesday afternoon that Jonathan Nelson, the company’s senior vice president
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